Business Law and Corporate Law

The Nigerian Insurance Industry Reform Act 2025 has introduced a more stringent framework for claims settlement, with stronger financial and regulatory consequences for unreasonable delay. This thought leadership article examines how NIIRA 2025 affects the proof of insurer misconduct and the remedies available to policyholders, focusing specifically on unreasonable delay in claims settlement and the significant changes from the previous Insurance Act 2003.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued an official clarification regarding aviation-related charges in the oil and gas sector, specifically addressing the $300 helicopter levy and terminal navigational charges. This regulatory update provides critical guidance for operators and stakeholders navigating compliance requirements in Nigeria's upstream petroleum industry.

The Court of Appeal in Lagos has ruled on a significant regulatory dispute between the Copyright Society of Nigeria and the Nigerian Copyright Commission, addressing the enforceability of interim relief when underlying regulatory approvals have lapsed. The judgment clarifies the legal boundaries for collective management organisations operating without valid regulatory status and the Commission's authority to take action in such circumstances.

The Supreme Court of Nigeria has settled a long-standing controversy in the accountancy profession regarding whether audit firms can validly sign audit reports in their corporate name, or whether only individual chartered accountants should sign such reports. This landmark decision reverses a 2010 Federal High Court ruling and has profound implications for professional accountability, disciplinary measures, and the future structure of Nigeria's accountancy profession.

A recent judgment of the Federal High Court delivered on 23rd May, 2026 serves as an important reminder for businesses operating or seeking to operate in Nigeria that obtaining a Certificate of Incorporation from the Corporate Affairs Commission (“CAC”) does not automatically mean that a business name is beyond legal challenge.

The increasing prominence of ESG considerations has materially altered global finance architecture, yet financial crime risk remains treated as a peripheral compliance concern.

The Nigerian Exchange Group has unveiled plans to allow Nigerian companies with significant foreign exchange revenue and free trade zone enterprises to issue and list bonds and stocks denominated in US Dollars. This initiative aims to provide an avenue to meet the foreign exchange needs of such companies while enhancing investment opportunities in Nigerian capital markets.

Nigeria's cryptocurrency market has long operated in a legal grey area, but the enactment of the Investments and Securities Act 2025 marks a turning point. For the first time, digital and virtual assets are expressly recognised within the country's securities regulatory framework, bringing clarity to their legal status and placing qualifying activities under the supervision of the Securities and Exchange Commission.

The Securities and Exchange Commission (‘SEC’), the National Pension Commission (‘PenCom’), the Nigeria Revenue Service (‘NRS’), the Financial Reporting Council of Nigeria (‘FRCN’), the Nigeria Immigration Service (‘NRS’), the Nigerian Exchange Group (‘NGX’)...

When a person dies in Nigeria, their assets and liabilities require proper legal administration before distribution to rightful beneficiaries. This comprehensive guide examines the legal framework governing estate administration, distinguishing between Probate and Letters of Administration, and addressing the procedural requirements, common challenges, and practical considerations that executors, administrators, and beneficiaries must navigate when managing deceased estates under Nigerian law.

Trusts and Wills are estate planning vehicles in Nigeria that appear arcane to a cross-section of the public. The reason is not far-fetched; Nigerians are traditionally “testamentophobic” and would rather resort to the use of the extended family structure than rely on Trusts and Wills. This reality creates the need to demystify this area of law which wields a great influence directly or indirectly on the lives and finances of a considerable percentage of the Nigerian population.

Wealthy African families are shifting their approach to family offices, prioritizing governance frameworks and ownership structures over investment strategy as they transition from founder-led wealth to multigenerational stewardship. This distinctly African model addresses the structural gaps that emerge when significant portfolios grow across operating businesses, real estate, and global investments without coordinated ownership frameworks or formal governance systems.